TeraWulf Q2 Revenue Hits $44.77M, HPC Leasing Accounts for 71% of Total

TeraWulf reports $44.77M Q2 revenue with 71% from HPC leasing. Net loss of $940.8M driven by option fair value changes. Post-period Anthropic deal valued at $19B.

Woofun AI reports that Bitcoin mining firm TeraWulf posted Q2 2026 total revenue of $44.77 million, with $31.93 million derived from HPC leasing services, representing 71% of the total. The company recorded a net loss of $940.8 million, largely attributed to a $755.7 million loss from changes in the fair value of options, while adjusted EBITDA stood at a loss of $18.34 million. Cash and restricted cash totaled approximately $3 billion as of June 30.

Post-period developments include a 20-year lease agreement with Anthropic for roughly 401 MW of critical IT capacity at the Justified facility in Kentucky, with estimated revenues of $19 billion, potentially rising to $33 billion with renewals. First deliveries are slated for the second half of 2027.

Additionally, TeraWulf sold a 50.1% stake in the Abernathy joint venture for approximately $530 million, acquired the Muskie Data Campus in Kentucky with up to 1 GW power capacity, and received FERC approval for the Morgantown power plant acquisition, enabling expansion of the Chesapeake Data Campus to 1 GW by 2030.